Stallion Uranium Corp. (TSX-V: STUD) intersected anomalous radioactivity with its new drill program’s very first hole. This indicates that the target being drilled may be a valuable resource going forward.
The maiden program is focused on the company’s Coffer project in the southwest corner of the Athabasca Basin. The hole drilled at the site’s Appaloosa target yielded radioactivity as high as 1,540 counts per second in a 4.2-metre interval.
Stallion said Tuesday that the company was thrilled with this result. The explorer believes the core sample indicates that it is on a mineralized trend with the potential to host a rich uranium deposit.
“It is very rare for a drilling program to intersect radioactivity on the first hole of a program,” Canadian exploration manager Darren Slugoski said. “We think this is a testament to the potential of the Appaloosa Target.”
Slugoski says the geological information gained from the first hole will be invaluable for subsequent drilling in the coming days.
“The ongoing exploration at the Appaloosa site is just the beginning of our exciting journey as we continue to uncover high-priority target areas across our projects, giving the company incredible opportunities for discovery ahead,” chief executive Drew Zimmerman added.
Stallion will send future core samples from this year’s program to the Saskatchewan Research Council Geoanalytical Laboratories in Saskatoon for analysis.
Handheld gamma ray spectrometer measures radioactivity in sections of the new core sample. Photo: Stallion Uranium
Read more: ATHA Energy expands into new Canadian territory with 2024 exploration program
Read more: ATHA Energy closes acquisition of Latitude Uranium, obtains Nunavut and Labrador properties
Stallion completes largest-ever airborne geophysical survey in southwest corner
The uranium prospector recently had an extensive helicopter survey completed in the bottom left corner of the Basin.
This led to the discovery of over 560 kilometres of conductive trends associated with uranium mineralization on Stallion’s joint venture property with ATHA Energy Corp. (CSE: SASK) (FRA: X5U) (OTCQB: SASKF).
The two companies hold the largest project in the southwest corner of the Basin adjacent to several high-grade zones. The most notable is the Rook I project’s Arrow deposit being developed by NexGen Energy Ltd. (TSX: NXE).
📌 Exciting insights on strategic drilling! @stallionuranium methodical approach & expertise make it a compelling investment, especially in the Athabasca Basin.
Discoveries drive market moves, making now the perfect time to consider adding it to your portfolio.#TheNextBigRush pic.twitter.com/m2k8CHPe6n
— Fabi (@TheNextBigRush) March 31, 2024
ATHA has the largest land package in the entire region. It will become even further enhanced once the company’s pending acquisition of the jurisdiction’s miner 92 Energy Limited (ASX: 92E) is finalized.
Stallion’s joint venture partner received shareholder approval and authorization from the Federal Court of Australia for the transaction. It is expected to close next week.
ATHA Energy is a sponsor of Mugglehead news coverage
rowan@mugglehead.com
